New York State Teachers Retirement System Decreases Stake in PennyMac Mortgage Investment Trust (NYSE:PMT)

New York State Teachers Retirement System reduced its position in PennyMac Mortgage Investment Trust (NYSE:PMT) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,892 shares of the real estate investment trust’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System owned approximately 0.16% of PennyMac Mortgage Investment Trust worth $1,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its stake in shares of PennyMac Mortgage Investment Trust by 58.0% in the 4th quarter. Versant Capital Management Inc now owns 2,240 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 822 shares in the last quarter. Simplify Asset Management Inc. acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $143,000. Aigen Investment Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 3rd quarter valued at about $152,000. Finally, Longboard Asset Management LP acquired a new stake in shares of PennyMac Mortgage Investment Trust in the 4th quarter valued at about $160,000. 67.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market outperform” rating and set a $15.50 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

PennyMac Mortgage Investment Trust Trading Up 0.6 %

Shares of NYSE:PMT opened at $14.09 on Friday. PennyMac Mortgage Investment Trust has a 1-year low of $11.77 and a 1-year high of $15.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.59 and a beta of 1.51. The company has a 50 day moving average price of $13.02 and a 200 day moving average price of $13.50.

PennyMac Mortgage Investment Trust (NYSE:PMT) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. PennyMac Mortgage Investment Trust had a net margin of 48.17% and a return on equity of 11.48%. On average, research analysts anticipate that PennyMac Mortgage Investment Trust will post 1.54 EPS for the current fiscal year.

PennyMac Mortgage Investment Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, December 27th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.36%. The ex-dividend date was Friday, December 27th. PennyMac Mortgage Investment Trust’s dividend payout ratio is currently 120.30%.

PennyMac Mortgage Investment Trust Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.